PSE&G says results of recent basic generation service supply auction will lower residential bills 2.6%

Written By: Stratton Report
February 10, 2017

PSEG

On February 10, PSE&G announced that residential electric bills will drop 2.6 percent on June 1 as a result of the recent basic generation service supply auction approved by the New Jersey Board of Public Utilities.

Per the utility, the monthly bill for a PSE&G residential customer who uses the statewide average of 650 kilowatt-hours per month will be $112.62, or $3 less per month on June 1 than previously. .

Jorge Cardenas, PSE&G vice president of asset management and centralized services remarked:

We commend the Board of Public Utilities for once again approving this efficient and competitive way to secure electricity on behalf of our customers. Our customers are benefitting from the lower costs of energy and capacity, even as PSE&G is upgrading its transmission and distribution systems to maintain reliability.